NYC Public Advocate's Statement on the Rent Guidelines Board Preliminary Vote

May 1st, 2024

Statement

"Neither the Rent Guidelines Board nor the mayor who appointed it seems to understand the reality of the housing crisis our city is confronting and the dire circumstances New Yorkers face in trying to find and stay in their homes. Their definition of reasonable seems written by the real estate industry. Under this administration, which professes to care about affordability, we continue to see the largest proposed rent increases in decades. "With Albany’s housing deal and so many tenants left unprotected, and providing new tools available for landlords to raise rents, tenants simply cannot afford these proposed increases – and owners can’t squeeze more money from people who just don’t have it. Instead, government and banks should crack down on lending to bad landlords and on insurance companies harming responsible ones. "I’m sure the Board will hear the stories of struggle from people across the five boroughs in the coming weeks, and I implore them to actually listen."

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